Veteran trader explains when it’s the best time to cash out of the market

Veteran trader explains when it’s the best time to cash out of the market

The cryptocurrency market has had a wild ride in 2021. Bitcoin set a new record at $64,863, shocking its critics, and NFT and DeFi made headlines all over the globe.

Because the cryptocurrency market is notoriously volatile, traders should be cautious in times like these. Large fortunes can be lost in just a few hours or days if the trend changes.

Charlie Burton, a veteran trader and co-founder of Ezeetrader says this is the time when traders need to establish a set of rules to follow when emotions start to boil. “We are all flawed, fallible human beings, especially when it comes to the markets,” he said.

Burton stated,

“We are naturally affected by fear or greed to one degree or another.” We need some rules but I also believe that visualization is a good thing.

These rules could include things such as the percentage loss investors can place a stop loss at, the maximum amount of portfolio one will allow to trade and the setting of sell orders for investments.

Burton stated,

It is essential to have a lot of self talk. “If I take this trade and it fails, will I be upset about myself?” This is a good line to stop me jumping into trades I shouldn’t. You should do your research before making any investment or trading decision.

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Amy Jimenez– Services My name is Amy Jimenez, and I am the main writer behind the" allthetopnews.com" for the ground-breaking and most fragile bits of knowledge into the most recent news in the services sector. I began my voyage of work as an autonomous investment advisor. I had around 4 years of involvement in this field. I am a free soul so; my energy for investigating the world has taken me to the countries over the globe and allowed me to report for a part of the best news affiliations. At present, I am a full-time manager as experienced in the account and began to utilize my capacities.

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